Business » Industry

Updated: June 28, 2013 22:01 IST

NTPC ties up 95 m euro loan facility with KfW

Comment   ·   print   ·   T  T  
A.K. Singhal, Director, Finance, NTPC. Photo: Kamal Narang
The Hindu A.K. Singhal, Director, Finance, NTPC. Photo: Kamal Narang

State—run power producer National Thermal Power Corporation (NTPC) has tied up with German entity KfW for a fixed interest term loan facility of 95 million euros (about Rs 738 crore).

The loan facility would be utilised to part finance the capital expenditure on renovation and retrofitting of Electro Static Precipitators at various generation stations of NTPC to reduce fly ash emissions.

In a statement, NTPC said the term loan facility of 95 million euros would have a fixed interest.

“The facility has a door to door maturity of 12 years including grace period of 4 years. The loan shall be repaid in 16 equal semi annual instalments. KfW has in the past also provided financial cooperation to support the company’s renovation and modernisation and expansion schemes,” it added.

NTPC Director (Finance) A.K. Singhal said the agreement reinforces the strong and long standing relationship between the company and KfW.

“It is indeed a great honour that KfW and the German government recognise NTPC. It very well reflects the strong credit quality and governance systems of the company,” he noted.

KfW is Germany’s leading development bank.

More In: Industry | Business
This article is closed for comments.
Please Email the Editor
Both the tech giants have now decided to drop the patent cases in all other countries except U.S. Photo: AP

Timeline: Apple and Samsung patent game-play

2007: Apple sued its component supplier Samsung for four design patents, which included the basic shape of iPhone. It declared that most of the South Korean Company's android phon... »






Recent Article in Industry

Arun Nanda, Chairman of Mahindra Holidays during a press conference announcing the company's acquisition of 18.8% stake in Holiday Club Resort Oy Finland, in Mumbai on Monday. File Photo

Mahindra Holidays to invest Rs. 500 crore to add 500 rooms this fisc

Mahindra Holidays, which owns 42 Club Mahindra brand of timeshare resorts across the country and four overseas, will be spending Rs 500... »